Malaysian palm oil inventories probably declined to a five-month low in January as a period of seasonally low output gets underway, according to a Bloomberg News survey.
Stockpiles probably fell 2.4 per cent to 1.99 million tons, dropping below the 2 million-mark for the first time in five months, according to the median estimate in the survey of three analysts and two plantation companies.
Stockpiles stood at 1.42 million tons during the same period a year earlier, according to the Malaysian Palm Oil Board, which is scheduled to publish this year’s estimate on Feb. 10.
Source: Business Times
